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Argentina to raise oil export price to 63 dollars per barrel from the current 42

Monday, March 26th 2012 - 08:30 UTC
Full article 8 comments

Argentina’s Energy Secretary Daniel Cameron will propose that oil prices for export be raised to 63 dollars per barrel from the current 42 dollars, the Argentine newspaper La Nacion reported Sunday on its website. Read full article

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  • Idlehands

    The message oil companies will get from this is “we demand you come to our country and invest billions of dollars so that you can sell us the oil at a price lower than it has cost you to extract - and count yourself lucky for this generous offer”

    Tempting!

    Mar 26th, 2012 - 08:45 am - Link - Report abuse 0
  • GreekYoghurt

    @1 Can I do it? Can I? Can I? *Belly Laughs*

    Not a hope in hell of getting anyone other than the freaks and the uniques to invest in their nonsense given their current behaviour.

    Mar 26th, 2012 - 08:48 am - Link - Report abuse 0
  • British_Kirchnerist

    #1 Apologies if I don't feel quite so sorry for the poor oil companies, after all the poverty and destruction they've caused around the world, especially in the Middle East (the arguments above were the same ones used against PM Mossadeq of Iran, justifying a coup in 1953 against secular progressive nationalism that led to both the Shah and the Islamic Republic). I'm glad my Queen has given them the only choice they deserve - pay a proper price for the privilege of getting your hands on our oil, or get out. Viva Cristina! Ti amo mi reina, besos =)

    Mar 26th, 2012 - 09:20 am - Link - Report abuse 0
  • Teaboy2

    @3 - “after all the poverty and destruction they've caused around the world, especially in the Middle East” Does that include Dubai and other rich middle eastern states that made their wealth from oil then? No i didn't think so. Its not the oil companies and the product of oil in countries that have led to poverty, its the governments of the countries who have kept the oil money in their own pockets and not shared it with the people, that has left their people poor, such as saddam hussain and gaddafi did, though gaddafi did. Just like Iran today is using their oil money to build nuclear power and possible nuclear weapons using money made from oil, rather than investing it in their own people, who suffer the most from sanctions.

    Also the down side of this price increase, would be buyers of exported oil looking elsewhere for cheaper oil, so the money brought in from exporting oil, will decrease if argentina is not careful.

    Mar 26th, 2012 - 10:22 am - Link - Report abuse 0
  • GreekYoghurt

    My favourite oil story was when Argentina demanded that the oil companies sold their oil at $42 dollars a barrel and then wondered when no one invested in the concessions. What was even funnier was when a guy in a tracksuit then demanded the oil companies spend their reduced profits on investment in the concessions!?!?

    *belly laughs* hahahahhaha *belly laughs* Funny tracksuit wearing mullet-Argies.

    Mar 26th, 2012 - 11:05 am - Link - Report abuse 0
  • Pedro

    Brent crude price today $ 124.99 Argentina's generous new offer $ 63 Ha Ha Ha Ha Ha - funny. And then they claim they understand economics! The model is sooo sucessfull.Extorting investments from YFP by cancelling consessions. It worked so well in the Beef industry that the Brazilian companies are leaving. YFP take my advice - cut your losses and leave. Go to Chile, Uruguay and the Falklands - give Rockhopper hell.

    Mar 26th, 2012 - 12:08 pm - Link - Report abuse 0
  • GreekYoghurt

    @6 I'm not sure it's quite brent crude but let's have a look (all in per barrels):

    £124.99 - $42 = $82.99 (v.f. bad)
    £124.99 - $63 = $61.99 (still bad)

    Not really a lot of reason to take up any of these concessions, or even to invest in them. Best strategy is just to run them into the ground and wait for the country to take them back.

    These people really have no understanding of business nor economics.

    Mar 26th, 2012 - 01:50 pm - Link - Report abuse 0
  • jerry

    Simple economics - make every deal you can, win or lose, up or down -just insist that every deal must give you a percentage of the deal. Then you put that percentage in your pocket. Does this not sound like K economics?

    Mar 26th, 2012 - 08:11 pm - Link - Report abuse 0

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